Norway Sovereign Fund Discloses $1.2B SpaceX Stake, H1 Returns Hit 9.4%

The $2.34T Norwegian fund reports a record $182B H1 profit and a 9.4% return. It reveals a new $1.2B SpaceX position, contrasting with larger NVIDIA and Apple holdings.

Woofun AI data shows the Norwegian Government Pension Fund Global generated over $182 billion in profits during the first half of the year, marking a new high for the period with a 9.4% investment return rate. CEO Nicolai Tangen attributed this performance to positive stock market trends, specifically the rise in Asian tech stocks.

The fund's latest semi-annual report discloses its first-ever holding in SpaceX, comprising approximately 0.05% of shares valued at slightly over $1.2 billion as of June 30. For comparison, the fund holds 1.3% of NVIDIA shares worth $61.8 billion and 1.2% of Apple shares valued at $52.7 billion. Established in the 1990s to invest oil revenues, the fund now covers more than 7,000 companies across 50 countries, with U.S. stocks representing around 40% of its portfolio.